with the currrent ongoings off this pair i can see the start of a consolidation forming we can grab some pips
Gold gave a double bottom price broke previous resistance now testing that resistance to make a new support looking for long to next resistance
we see the cycles of the market playing out from trend to consolidation in the form of a potential inverse head and shoulders should price break the neckline and close over it we should see a third phase of the market in the form of a impulse will wait for the close above the neckline
Update on this idea has not changed price did not shoot down but has started correcting in the form of a wedge will wait for the break and close below the level highlighted in purple to enter this trade
i have updated the supply zones on gbpjpy and i have entered the trade
will set afew buystops to catch a impulse move if price decides to retest highs
price is currently correcting to a supply level will look for bearish signs at that level
Price retested the broken zone and gave bearish signs we need price to break the support level to give us clear indication of going down but the signs are there will set sell stops in place to catch the move down
Price is squeezing to a point yesterday the head and shoulders failed to form and we pushed further to the downside 1 price is stretched 2 price keeps forming these potential reversal signs which indictates price wants to retest the breakout of the bigger timeframe 3 we only use buystops to catch the move if it happens as we are trading we do not know for certain...
looking for the retest of the bigger day trend price moved up now making a sort of correction will have buystops in place to catch the impulse
double top or signs of rejection yesterday price failed to make the head and shoulders will set a sellstop and sl @ 30 pips
Eurcad failed to take off yesterday and price crashed down but was caught by support key level sighted if price break through level place buystops to catch the impulse
As predicted Usdjpy shot up but as price approaches the level we see signs of weakness forming into a wedge after a impulse which usually means signs or reversal will set sell stops to catch price as it drops
Update on Uj we got the drop expecting a pullback to form a shoulder to confirm a reversal pattern to continue to the downside lets wait and see what price does but my thoughts are still to the downside trade is activated
Price has made the first move to the upside im seeing a possible inverse head and shoulders forming if price does behave this way will look to get in on a second long trade
Eurusd we had a small drop as predicted now price showing reversal signs set buystops around 1.16930 sl @ 1.16710 tp @ 1.17160
correction wave to a pervious level where price shot up, price currently stop hunting in prepartion for a bigger move to the upside
Price broke previous highs currently testing for support looking for the next impulse